What is the 'Bank Transit/ABA Number' field for on the Pearce Bespoke Authorization Form?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
| The undersigned depositor ("Depositor" or "Licensee") hereby authorizes Pearce Bespoke Franchising, LLC ("Licensor") to initiate debit entries and/or credit correction entries to the undersigned's checking and/or savings account(s) indicated below, and the depository designated below ("Depository" or "Bank") to debit or credit such account(s) pursuant to Licensor's instructions. Please attach a voided blank check, for purposes of setting up bank and transit numbers. |
|---|
| Depository: |
| Branch: |
| City, State Zip: |
| Bank Transit/ABA Number: |
| Account Number: |
| This authority is to remain in full force and effect until 60 days after Licensor has received written |
| notification |
| from Licensee of its termination or expiration. |
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 FDD, the 'Bank Transit/ABA Number' field on the Pearce Bespoke Electronic Depository Transfer Authorization Form is used to identify the franchisee's bank for initiating debit and credit entries. Specifically, Pearce Bespoke uses this information to debit or credit the franchisee's checking or savings account based on the franchisee's authorization.
By completing this form, the franchisee authorizes Pearce Bespoke to make electronic withdrawals or deposits to the designated bank account. This authorization remains in effect until 60 days after Pearce Bespoke receives written notification from the franchisee regarding termination or expiration of the agreement.
Prospective Pearce Bespoke franchisees should understand that this authorization allows Pearce Bespoke to directly access their bank account for various financial transactions related to the franchise agreement. Franchisees should carefully review the terms of the authorization and maintain accurate records of all transactions.